Nutek Forecasts Profitability for First Quarter 2002 and for Full Year.

HENDERSON, Nevada, Apr 8, 2002 (BUSINESS WIRE) -- Nutek Inc. (NUTK), a publicly traded holding company, announced today that they would be filing the corporation's Form 10-QSB with the Securities and Exchange Commission before the end of this month, for the three-month period ended March 31, 2002. Nutek said that the revenues for the period would definitely exceed $1 million. Furthermore, net profit for the period should exceed $100,000.

Nutek CEO Murray Conradie commented, "The improvement in both sales revenues and in earnings can be attributed to both the cost-savings measures implemented beginning late last year, and which remain ongoing; and to enhanced performance and growth of operations. With favorable market conditions for Nutek Oil, a successful launch of the TekPlate(TM) product line, and an increasing backlog at Datascension, our shareholders may expect profitability and growth to continue through the year. In other words, our first quarter will not be looked back upon as simply an aberration."


Nutek is a holding company, with a concentrated focus on three primary operating divisions, diversified in very different industries. Nutek is devoted to the acquisition, development and marketing of proprietary consumer/commercial products, accomplished through the acquisition of exclusive proprietary rights in consumer/commercial products, by assignment or exclusive license agreement. In addition to this division, Nutek Oil Inc., based in San Antonio, Texas, and Datascension Inc., based in Riverside, California, round out the current operating units of Nutek.

Safe Harbor for Forward-Looking Statements

Except for historical information contained herein, the statements in this release are forward-looking statements that are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the company's actual results in future periods to differ materially from forecasted results. Such risks and uncertainties include, but are not limited to, market conditions, competitive factors, the ability to successfully complete additional financings, the company's failure to implement its business strategies and other risks.